Title

Authors

RIS ID

12625

Publication Details

Mickhail, G. M. (2005). The imperialist claws of MetaCapitalism. 2005 Critical Perspectives on Accounting (pp. 1-16). Baruch College, City University of New York.

Abstract

The information and industrial revolutions are so different and yet similar. Both enjoyed the emergence of accounting measurement and management techniques which privileged the efficient allocation of resources as the principal imperative to a firm's participation in a free market economy. MetaCapitalism is one such corporate change strategy which promised untold wealth and unprecedented growth, and under that guise a predatory Darwinistic corporate strategy was implemented. Fundamentally, it promotes extreme outsourcing and downsizing of human capital, de-capitalisation of all non-core capital assets and the diminished role of the State in the global free market economy. Yet the most disturbing aspect is its complete and total disregard for even the slightest social or public policy implications. Essentially then, its most salient danger is an unmistakable endorsement of a fundamentalist brand of value free, reckless capitalism that is ultimately detrimental not only to the long-term business interest, but human as well. One of the main findings of evaluating the Fortune 100 companies' performance in implementing MetaCapitalism was the resulting monopolies. Lenin described monopolies as essential to imperialism which is the highest stage of capitalism. The parallels between the resulting monopolies under MetaCapitalism, and what Lenin described as the final stage of Capitalism are poignant. I would like to draw upon those parallels in the hope that earlier work might enlighten our understanding and inform our critique of MetaCapiatlism.